Gold production in Russia may increase by 0.7% YoY, to 366 tons in 2021, and silver production may amount to 1,450 tons, Sergei Kashuba, chairman of the Union of Gold Producers of Russia, has announced.
“Production of primary gold will increase by about 1%, to 338 tons, plus secondary production, according to our expert estimate, will be about 28-30 tons,” Kashuba said.
The union said earlier that gold production fell by 3.46%, to 141.422 tons in January-June.
Kashuba said, “The fact that we see a slight decrease in the first half of the year (within 7 tons) is not a critical decrease. We do not see any systemic problems in the companies, in the second half of the year they will catch up production.”
In 2020, Russia’s gold production fell by 1%, to 362.7 tons. (Prime/Ukrainian metal)